11640 Windbrooke Way

Johns Creek, GA 30005

$391,000D+

4 bd · 2.5 ba · 2,654 sqft · Built 1988 · SingleFamily · Pending · 7 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,947/mo
• Mortgage (P&I): −$2,050
• Tax + insurance: −$258
• HOA: −$58
• Vac / Maint / Mgmt: −$619
• Net cashflow: $-38/mo
• Annual: $-457/yr
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• 1% rule: 0.75%
• Cash to close: $109,480

Investor read

• This is a 4-bed/2.5-bath single-family listed at $391k.
• At list price, monthly cash flow is $-38 ($-457/yr) — negative.
• To cash-flow at today's rent, offer at most $384k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (24.6% below list).
• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $295k (24.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#187 in GA) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Fulton County (suburban): math 49% / reading 53% proficiency, ranked #12 of 174 in GA (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Abbotts Hill Elementary School (math 78% / reading 71%, grade A, #32 of 1,228 statewide, top 3%, 572 students, 12% FRL); Taylor Road Middle School (math 70% / reading 71%, grade A, #15 of 470 statewide, top 3%, 1,250 students, 9% FRL); Chattahoochee High School (math 67% / reading 24%, grade D-, #43 of 424 statewide, top 10%, 1,852 students, 8% FRL) — zoned schools average 10% FRL vs 41% district-wide (32 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 64% at this address vs 51% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Fulton County average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.5%/yr); 216 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 11,565 units permitted in Fulton County in 2024 (8,159 in 5+ unit buildings).
• Fulton County population projected at +38% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $178k; list at $391k implies a 120% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 6.2% vs local median 2.4% in Johns Creek — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.